Crestwood Advisors Group LLC Purchases 1,533 Shares of Consolidated Edison, Inc. (NYSE:ED)

Crestwood Advisors Group LLC increased its position in shares of Consolidated Edison, Inc. (NYSE:ED) by 50.1% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 4,592 shares of the utilities provider’s stock after buying an additional 1,533 shares during the quarter. Crestwood Advisors Group LLC’s holdings in Consolidated Edison were worth $418,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of ED. Financial Gravity Asset Management Inc. raised its stake in Consolidated Edison by 215.6% during the 3rd quarter. Financial Gravity Asset Management Inc. now owns 284 shares of the utilities provider’s stock valued at $25,000 after purchasing an additional 194 shares during the last quarter. Level Financial Advisors Inc. acquired a new position in Consolidated Edison during the 3rd quarter valued at $26,000. Retirement Group LLC raised its stake in Consolidated Edison by 74.8% during the 4th quarter. Retirement Group LLC now owns 271 shares of the utilities provider’s stock valued at $26,000 after purchasing an additional 116 shares during the last quarter. Tyler Stone Wealth Management acquired a new position in Consolidated Edison during the 2nd quarter valued at $28,000. Finally, Turtle Creek Wealth Advisors LLC acquired a new position in shares of Consolidated Edison in the 4th quarter valued at $29,000. 66.29% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. LADENBURG THALM/SH SH assumed coverage on shares of Consolidated Edison in a research note on Wednesday, January 3rd. They issued a “neutral” rating and a $92.50 price objective for the company. UBS Group dropped their target price on shares of Consolidated Edison from $99.00 to $94.00 and set a “neutral” rating for the company in a research report on Friday, February 16th. Royal Bank of Canada dropped their target price on shares of Consolidated Edison from $94.00 to $93.00 and set a “sector perform” rating for the company in a research report on Friday, February 16th. Scotiabank increased their price objective on shares of Consolidated Edison from $90.00 to $91.00 and gave the stock a “sector underperform” rating in a report on Tuesday, February 20th. Finally, KeyCorp raised shares of Consolidated Edison from an “underweight” rating to a “sector weight” rating in a report on Thursday, January 4th. Four research analysts have rated the stock with a sell rating, eight have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, Consolidated Edison has a consensus rating of “Hold” and a consensus price target of $87.96.

Consolidated Edison Stock Up 0.1 %

Shares of NYSE ED opened at $88.63 on Monday. The firm has a market capitalization of $30.62 billion, a PE ratio of 12.34, a price-to-earnings-growth ratio of 8.36 and a beta of 0.35. The company has a current ratio of 1.01, a quick ratio of 0.94 and a debt-to-equity ratio of 1.04. Consolidated Edison, Inc. has a 1 year low of $80.46 and a 1 year high of $100.92. The firm’s 50-day moving average is $88.91 and its 200-day moving average is $89.49.

Consolidated Edison (NYSE:ED) last issued its earnings results on Thursday, February 15th. The utilities provider reported $1.00 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.98 by $0.02. Consolidated Edison had a net margin of 17.19% and a return on equity of 8.41%. The company had revenue of $3.44 billion for the quarter, compared to analyst estimates of $3.70 billion. During the same quarter last year, the firm earned $0.81 EPS. The company’s revenue for the quarter was down 14.6% on a year-over-year basis. Equities analysts expect that Consolidated Edison, Inc. will post 5.3 EPS for the current year.

Consolidated Edison Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Wednesday, February 14th were paid a dividend of $0.83 per share. This is a positive change from Consolidated Edison’s previous quarterly dividend of $0.81. The ex-dividend date of this dividend was Tuesday, February 13th. This represents a $3.32 annualized dividend and a yield of 3.75%. Consolidated Edison’s dividend payout ratio (DPR) is presently 46.24%.

About Consolidated Edison

Consolidated Edison, Inc, through its subsidiaries, engages in the regulated electric, gas, and steam delivery businesses in the United States. It offers electric services to approximately 3.7 million customers in New York City and Westchester County; gas to approximately 1.1 million customers in Manhattan, the Bronx, parts of Queens, and Westchester County; and steam to approximately 1,530 customers in parts of Manhattan.